"Liquidity" refers to the ability to change money into assets
Indicate whether the statement is true or false
F
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If preferences are transitive, indifference curves
A) intersect at the optimum consumption bundle. B) do not intersect. C) intersect where the marginal rate of substitution for each indifference curve is equal. D) intersect at the equilibrium consumption bundle.
Which of the following is characteristic of a monopolistic competitor?
a. a standardized product b. the ability to influence price c. allocative efficiency d. a horizontal firm demand curve
Which of the following best illustrates the concept of a store of value?
a. You are a precious-metals dealer, and you are always aware of how many ounces of platinum trade for an ounce of gold. b. You sell items on eBay, and your prices are stated in terms of dollars. c. You keep 6 ounces of gold in your safe-deposit box at the bank for emergencies. d. None of the above is correct.
The private sector balance is equal to savings ________ investment, and the government sector balance is equal to government expenditure ________ taxes. If there is a deficit in the private sector balance and a deficit in the government sector balance, then there must be a ________ in net exports.
A) plus; plus; surplus B) minus; minus; deficit C) minus; minus; surplus D) plus; plus; deficit E) plus; minus; surplus